Net interest income rose by $1.4 billion compared with the first half of 2025, primarily driven by deposit balance growth and the reinvestment of the structural hedge at higher yields. Banking NII, which excludes funding costs associated with the trading book and insurance NII, increased by $1.6 billion to $22.9 billion. The net interest margin widened by four basis points to 1.61%.<\/p>\n
Customer accounts across the group grew to $1.83 trillion at 30 June 2026, up from $1.79 trillion at 31 December 2025. On a constant currency basis, customer accounts increased by $56 billion, primarily reflecting growth in the corporate and institutional banking business.<\/p>\n
Revenue grew 11% to $37.7 billion, supported by higher banking NII, strong wealth fee income in the International Wealth and Premier Banking and Hong Kong segments, and increased customer activity. Profit after tax reached $15.3 billion, up 23% on the first half of 2025.<\/p>\n
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HSBC first-half profits surge by 23% to \u00a319.5 billion https:\/\/t.co\/JcA7px6azn<\/a> pic.twitter.com\/MFz3u5gEFq<\/a><\/p>\n
The Financial Times reported in May that HSBC had exposure to collapsed mortgage lender Market Financial Solutions<\/a> through Apollo’s asset-backed lending unit Atlas SP. The higher provisions also reflected deterioration elsewhere in the loan book. “Mid-market clients across the globe,” said Pam Kaur, chief financial officer at HSBC Holdings plc, were among those driving the uptick. Additional allowances were set aside to reflect uncertainty from the ongoing conflict in the Middle East<\/a>.<\/p>\n
\n\u2014 The Independent (@Independent) August 4, 2026<\/a><\/p>\n
\nExpected credit losses totalled $2.4bn for the half, $0.4 billion higher than in the first half of 2025, with provisions for wholesale banking reaching $1.6 billion. HSBC attributed a significant portion of the charge to “fraud-related, secondary, securitisation exposure with a financial sponsor in the UK” within its corporate and institutional banking business.<\/p>\n